Active delegate

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Voted in 10/10 of the most recent proposals

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gfxlabs.eth
Voting power661.2K
Delegated addresses13842
Proposals created0
For/Against/Abstain
8636

Delegate Statement

We look forward to leveraging our learnings from other protocols and the deep relationships our team has fostered across DeFi, TradFi, governments, and academics.

GFX has a record of rolling up our sleeves and getting work done. The GFX team has authored half of all successful proposals on Uniswap (including the first cross-chain governance proposal), listed multiple assets and developed the price oracle on Compound, and led efforts at MakerDAO to interface with regulators, lawmakers, and outside researchers. We actively work to find mutual benefits for protocols we cover to collaborate – such as the soon-to-be deployed DAI Direct Deposit Module for MakerDAO to plug directly into Compound.

Delegation to GFX Labs is a delegation to a governance team that is one of the most experienced in DeFi, able to facilitate partnerships, and with a track record of consistent engagement and delivery of results.

GFX Labs isn’t a fund. We don’t hold positions. We are a team of builders who love DeFi. Our participation in governance is rooted in a desire to see DeFi overtake legacy finance. We promise to be active participants. We’ll explain not only when we agree, but most importantly, when we disagree. As first-hand participants in governance, we know how frustrating it is to work on a proposal, receive limited comments, only to have the proposal shot down at launch. Our door will always be open to those who share the passion for DeFi that we have.

My view on the Optimistic Vision: GFX has a passion for building and optimizing protocols and the Web3 ecosystem generally. Our past record shows a commitment to the same ideals expressed in the Optimistic Vision – collaboration, coordination, and democratization of everything Web3.

My view on the first three articles of the Working Constitution:

Article 1: Experimentation is appropriate, but past experience at major protocols suggests experimentation should be done with specific goals in mind. An ability to experiment early on is worthwhile, but needs to be tempered with an ability to commit once a winning formula has been found.

Article 2: A bicameral structure should in theory provide a more robust set of checks and balances, but only to the extent that OP Holder and OP Citizens are representative of differing constituencies. Shaping the criteria for the latter will be very important to get correct.

Article 3: The Foundation-that-decentralizes-over-time model worked quite well for governing the Maker protocol. It will be important to have robust governance processes developed prior to the end of that journey, however, to insure institutional knowledge is retained and best practices continue after full decentralization.

My skills and areas of expertise: GFX staff have experience in DeFi governance, proposal creation & execution, regulatory interface, academic outreach, economics, financial systems & markets, cross-protocol collaboration.

Past Votes

Voted for this proposal 8 days ago with 669K votes

Season 7: Chain Delegation Program Amendment

Reason: This is a reasonable amendment and should encourage chains to migrate to more technically robust features in some cases.
Abstained from voting on this proposal 8 days ago with 669K votes

Grants Council GrantNerd Elections

Abstain
Reason: All three of these candidates successfully served on the Grants Council in Season 6. While we can only vote to fill three seats, we also want to recognize Sov, who successfully served last season as well.
Abstained from voting on this proposal 8 days ago with 669K votes

Milestones and Metrics Council Reviewer Elections

Abstain
Reason: Takeshi and AnthiasLabs both served on the Grants Council in Season 6, which means they will have a good understanding of how grants were awarded and will be measured. v3naru_Curia is an experienced member of the Milestones & Metrics Committee in Season 5 and 6 when it was part of the Grants Council.
Abstained from voting on this proposal 8 days ago with 669K votes

Developer Advisory Board Governance Mission Team Elections

Abstain
Reason: Will and Blockdev successfully served on the DAB in Season 6. Jepsen successfully served on the DAB in Season 5. We would enjoy working with them again.
Abstained from voting on this proposal 8 days ago with 669K votes

Grants Council Final Reviewer Elections

Abstain
Reason: Matt, Michael, Jack, and MoneyManDoug have successfully served on the Grants Council for multiple seasons. Jack served with us on the Superchain Grants subcommittee last season as well. We have also successfully served for the entire existence of the Grants Council and vote for ourselves to advance Optimism.
Abstained from voting on this proposal 8 days ago with 669K votes

Developer Advisory Board Audit Request Team Elections

Abstain
Reason: Gjaldon has successfully located bugs in Optimism itself, and 0x7369 has an impressive background as the former head of Three Sigmas. M4ario and Noah both also have exceptional experience through Spearbit.
Abstained from voting on this proposal 8 days ago with 669K votes

Security Council Elections Cohort B Members

Abstain
Reason: L2Beat is a widely respected L2 watchdog group with plenty of technical expertise and multiple personnel available. Test in Prod, Yoav Weiss, Kris Kaczor, and Martin Tellechea previously served as Security Council members successfully. Test in Prod and Yoav Weiss make/have made technical contributions in the past to OP stack as well. Alchemy is included as another organization with deep technical expertise and multiple personnel available in the event of an emergency.
Abstained from voting on this proposal 8 days ago with 669K votes

Grants Council Operations Elections

Abstain
Reason: Nic is the only candidate, and also successfully served in this role in Season 6.
Abstained from voting on this proposal 8 days ago with 669K votes

Developer Advisory Board Foundation Mission Team Elections

Abstain
Reason: These are all three fantastic candidates and the DAB would be lucky to have all of them. Ed (aka wildmolasses) successfully served on the DAB last season, and, in our capacity as a Grants Council reviewer, we found their input useful. Skeletor is a co-founder of Wonderland, and Danyal is a core contributor hailing from the Base team.
Voted for this proposal about 1 month ago with 898K votes

Season 7: Developer Advisory Board Operating Budget

Reason: Vote For. The DAB has generally demonstrated a high level of usefulness, both to the Grants Council, and in community understanding and evaluation of protocol upgrades.
Voted for this proposal about 1 month ago with 898K votes

Season 7: Security Council Operating Budget [Onchain]

Reason: Vote For. The Security Council should answer to governance, so it needs to be funded by governance, rather than the Foundation.
Voted for this proposal about 1 month ago with 898K votes

Decision Market Mission [Onchain]

Reason: Vote For. It’s not entirely clear how these funds will be distributed, except that it will be done algorithmically, tied to market outcomes. It would be nice to know more about what that algorithm will look like, but it’s recognized that some liquidity or incentives will be needed to seed this decision market experiment. Whether it succeeds or fails will inform whether further funding is warranted in the future.
Voted for this proposal about 1 month ago with 898K votes

Code of Conduct Council Dissolution Proposal

Reason: Vote For. While we think the CoCC held value as a contribution path for junior members of governance, we agree that it is unnecessary and governance can be minimized in this area.
Voted for this proposal about 1 month ago with 898K votes

Season 7: Grants Council Operating Budget

Reason: Vote For. This budget is, on a per-item basis, in line with expectations, and does not present any major surprises.
Voted for this proposal about 1 month ago with 898K votes

Grants Council Mission [Onchain]

Reason: Vote For. This is the first time that the Grants Council will directly control funds it grants. The budget is smaller, which mostly reflects the decision not to continue the Superchain Grants program from Season 6.
Voted for this proposal about 1 month ago with 898K votes

Season 7: Milestones and Metrics Council Operating Budget

Reason: Vote For. This is the first time the M&M has been under its own budget, so there is little to compare it to. The total combined budgets of the M&M and the Grants Council is still less than the total last season, which suggests that it is reasonable. Even if there is additional cost in spinning it out into its own body, there is a strong argument that the M&M should be independent of the Grants Council, since it is in many ways checking the work of the Grants Council’s chosen grantees.
Voted for this proposal about 1 month ago with 898K votes

Upgrade Proposal #11: Holocene Network Upgrade

Reason: Vote For. The changes to derivation are primarily focused at removing code that appears to be unnecessary based on experience, and simplifying the code base in this area. From a practical standpoint, this places more emphasis on the Sequencer to keep the chain running smoothly, but does not empower the Sequencer with anything it does not possess today. OP Labs has communicated that the Sequencer software already is capable of handling this increased burden. EIP-1559 allows for elastic gas limits, which scale costs towards a target. This was developed at the request of other OP stack operators, and we’re not sure we understand the argument that Optimism itself needs or wants this change, but will defer on this subject since it should not impact Optimism until/unless a future proposal changes the parameters for this. More generally, only one portion of this update was audited. This is consistent with the OP Labs Audit Framework, but is still not a best practice, and is a clear case of being pennywise and pound-foolish. We would support governance stepping in to provide audit subsidies to developers authoring network upgrades if OP Labs and OP Foundation feel they cannot afford to audit every upgrade by default.
Voted for this proposal about 1 month ago with 898K votes

Season 7: Intent Ratification

Reason: Vote For. Optimism has bet the farm on interoperability. Supporting that should be the top priority.
Voted for this proposal about 1 month ago with 898K votes

Season 7: Anticapture Commission Amendment

Reason: Vote For. These changes seem acceptable, and from a practical perspective will not alter much, except requiring the ACC participate in discussions where the Citizens’ House may consider a veto. In the future, providing a budget for the ACC, rather than relying upon retroactive funding, would be preferred.
Voted for this proposal about 1 month ago with 898K votes

Onchain Treasury Transfer Cancellation Test

Voted for this proposal about 2 months ago with 2.28M votes

Onchain Treasury Transfer Test

Voted for this proposal 3 months ago with 2.3M votes

Season 6: Standard Rollup Charter Ratification

Reason: We don’t think this charter is as clear on some points as it should be, such as revenue sharing details, but we also acknowledge that it is an aspirational document, and has no legal, social, or other binding obligations on governance. Just like the Law of Chains more broadly, these are more guidelines to begin and maintain conversations with potential partners, and to our reading, in no way constrains the degrees of freedom of Optimism governance.
Voted for this proposal 3 months ago with 2.3M votes

Governor Update Proposal #3: Enable Onchain Treasury Execution

Reason: This is a tiny step, and certainly not sufficient to satisfy ourselves or the other delegates who, combined, signed a petition to accelerate decentralization. 17,000,000 OP currently stands in support of that petition. This proposal still requires Foundation permission to post a proposal, allowing them to keep a de facto veto. It also does not address the much more valuable ETH owed to governance. Overall, we find it disappointing that this appears to be the single item granted (if it even counts, given the permissioned nature of how it will work) on the extensive list that delegates requested. It’s beyond frustrating that Foundation feels the need to oversee governance spending, but governance is not allowed to oversee Foundation spending. It’s also ironic, given that governance is by far the smaller spender of OP tokens.
Abstained from voting on this proposal 4 months ago with 2.33M votes

Rolling Mission Requests: Voting Cycle 28

Abstain
Reason: This mission targets a vertical that has not yet become established, much less dominated by a competing chain. The total budget is 15,000 OP, which also makes this a low-risk RFP to craft.
Abstained from voting on this proposal 4 months ago with 2.35M votes

Rolling Mission Requests: Voting Cycle 27

Abstain
Reason: These all are needs or experiments we find compelling – in particular the very successful and in-demand audit grants. The other Mission Requests are helpful for business development and attracting new users and protocols to Optimism. Others simply seemed like they needed more clear scope or different budget sizing to be effective. Or were low priority because they are largely done but not easy to find in one place (e.g. auditing the financial holdings of governance), so don’t require an entire Mission Request.
Voted abstain this proposal 4 months ago with 2.35M votes

Rolling Mission Requests

Reason: We fully recommend that this be approved, but because GFX Labs is on the Grants Council, which collectively proposed this poll, we are required under updated rules to abstain for our own vote.
Abstained from voting on this proposal 5 months ago with 2.39M votes

Security Council Elections: Cohort A Lead

Abstain
Reason: There is only one candidate, who previously served as an appointed Security Council member.
Abstained from voting on this proposal 5 months ago with 2.39M votes

Security Council Elections Cohort A Members

Abstain
Reason: These candidates include incumbent Security Council members (Ethernaut, nanexcool, yoseph). It also includes new candidates that help provide geographic, political diversification. At present, the Security Council is unlikely to be called upon in an emergency due to the permissioned nature of proposals, so this is a good opportunity to cycle in fresh candidates.
Voted for this proposal 5 months ago with 2.39M votes

Upgrade Proposal #10: Granite Network Upgrade

Reason: This upgrade is in response to the security vulnerabilities identified here.
Abstained from voting on this proposal 6 months ago with 2.42M votes

Code of Conduct Council Elections

Abstain
Reason: Oxytocin is the only sitting member seeking reelection, and we think having experience on this body is important for continuity of best practices. The remaining candidates came recommended by other delegates, who generally cited the candidates’ involvement and energy. We view the Code of Conduct Council as an excellent intermediate role within Optimism governance, and ensures a steady pipeline of new governance participants to move into more demanding roles down the road.
Abstained from voting on this proposal 6 months ago with 2.44M votes

Mission Requests: Intent #1, 500k OP

Abstain
Reason: These are the Missions we believe most strongly in amongst those proposed. Their budgets are modest and the utility for each should be obvious from the titles alone.
Abstained from voting on this proposal 6 months ago with 2.44M votes

Mission Requests: Intent #3B, 12M OP

Abstain
Reason: While we believe there needs to be more focus on Optimism mainnet, fostering user growth and economic activity on partner chains is also important and we support this funding allocation. GFX Labs is also one of the three voting members to review and approve such grants applications, so we are well positioned to keep the funds tightly focused on proven ways to grow adoption.
Abstained from voting on this proposal 6 months ago with 2.44M votes

Mission Requests: Intent #3A, 6M OP

Abstain
Reason: These are the Missions we believe most strongly in amongst those proposed. All are tightly focused on attracting developers or productive capital to Optimism mainnet.
Voted for this proposal 7 months ago with 2.51M votes

Anticapture Commission Amendment

Reason: This mostly clarifies and slightly reduces the scope of duties for the ACC. In particular, it is now clearly stated that the ACC is not required to vote on proposals that are not technical upgrades or subject to Citizen’s House veto, though it may still choose to do so if it prefers.
Abstained from voting on this proposal 7 months ago with 2.51M votes

Grants Council Reviewer Elections: Mission Reviewer

Abstain
Reason: GFXlabs, Katie, MattL, Michael, MoneyManDoug, Jackanorak, and Mastermojo are all incumbent Grants Council members. We believe that all of them (which includes ourselves) have done a good job, and retaining experienced members is important for the continued improvement of the Optimism grants process. Tane is a group with technical background and that has been active in governance across several projects. Sov has grants experience from Gitcoin. Jrocki is a former Optimism Foundation employee, and has been engaged with governance. He co-hosts an L2-focused Twitter Spaces with Michael. Derbygold.eth has grants experience from Polygon. Brichis is the current Anticapture Commission lead, and we think moving her to a more active role would better utilize her energy and commitment to Optimism
Voted against this proposal 7 months ago with 2.51M votes

Chain Delegation Program Amendment

Reason: This program was not utilized in Season 5, so we don’t see a need for expansion. We also don’t want a large number of new Superchain members to be able to dominate governance decisions on expenditures when they may have varying amount of skin in the game for Optimism mainnet’s success.
Voted for this proposal 7 months ago with 2.51M votes

Upgrade Proposal #9: Fjord Network Upgrade

Reason: These changes have been reviewed and recommended by OP Labs and Coinbase engineers.
Abstained from voting on this proposal 7 months ago with 2.51M votes

Grants Council Reviewer Elections: Milestones and Metrics Reviewer

Abstain
Reason: These are all incumbent Grants Council members. We believe that all of them have done a good job, and retaining experienced members is important for the continued improvement of the Optimism grants process.
Abstained from voting on this proposal 7 months ago with 2.51M votes

Developer Advisory Board Elections

Abstain
Reason: Blockdev has experience with ZK and security, having done audit work for projects like Blast, LIFI, and zkEVM. Wildmolasses (aka Ed) is a Coinbase engineer who is already a contributor to the OP stack. Devtooligan is a developer with security experience. Alextnetto.eth has significant web2 development experience and currently works with his a team of 10 developers for the web3 company he founded, Blockful. Noah.eth is the Head of Security Reviews at Spearbit.
Abstained from voting on this proposal 7 months ago with 2.51M votes

Grants Council Reviewer Elections: Audit Reviewer

Abstain
Reason: AnthiasLabs is a risk and technical contributor at a variety of other protocol governances. M4rio.eth is a security reviewer with more than 100 reviews to date.
Voted against this proposal 7 months ago with 2.51M votes

Chain Delegation Program Amendment

Reason: This program was not utilized in Season 5, so we don’t see a need for expansion. We also don’t want a large number of new Superchain members to be able to dominate governance decisions on expenditures when they may have varying amount of skin in the game for Optimism mainnet’s success.
Voted for this proposal 8 months ago with 2.52M votes

Governor Update Proposal #2: Improvements to advanced delegation allowance calculations

Reason: This is a fix for a possible issue where more complex actions with partial delegation would result in the delegate receiving lower voting weight than expected. It also introduces new possible capabilities around sub-delegation.
Voted against this proposal 8 months ago with 2.52M votes

Season 6: Code of Conduct Council Renewal

Reason: This council operated with a budget of 18,000 OP last season. The nature of its work means most of the time there are few tasks for the council to do - it only needs to be active when a complaint has been raised. Because of this, payment is mostly a retainer, and not intended to be compensation for large amounts of work.
Voted for this proposal 8 months ago with 2.52M votes

Protocol Upgrade #7: Fault Proofs

Reason: Providing the ability to permissionlessly remove assets from the chain dramatically improves the trust assumptions that Optimism users must operate under.
Voted for this proposal 8 months ago with 2.52M votes

Protocol Upgrade #8: Changes for Stage 1 Decentralization

Reason: This is an important step towards technical decentralization of the protocol. It’s a small step, but still an important one. This change was driven by a need to attain “Stage 1 Rollup” designation from the watchdog group, L2Beat.
Voted for this proposal 8 months ago with 2.52M votes

Season 6: Intents Ratification

Reason: These Intents focus largely on growth initiatives, and a considerably expanded budget to do so. This is the primary need for Optimism at the moment, and it makes sense to focus on this season of grants.
Abstained from voting on this proposal 8 months ago with 2.52M votes

Season 6: Developer Advisory Board Renewal

Abstain
Reason: We feel 90,000 OP, which is more than a 20% increase in tokens from Season 5, is sufficient.
Voted for this proposal 8 months ago with 2.52M votes

Season 6: Grants Council Operating Budget

Reason: Disclosure: GFX Labs provided feedback on early drafts of this proposal.
Voted for this proposal 8 months ago with 2.52M votes

Season 6: Intent Budgets

Reason: This represents some significant shifts in funding from prior seasons, with increases across Intent 3. Other Intents are not the focus – much of Intent 1 (technical decentralization) will not be supported until better communications with the core developer team can ensure compatibility with efforts under Intent 1. Intent 2 will be handled separately. Intent 4 (governance accessibility) is not proposed to be funded this Season (see vote on Season 6 Intents).
Voted for this proposal 9 months ago with 2.52M votes

Season 5 : Intents Budget Proposal #2

Voted for this proposal 9 months ago with 2.52M votes

Governor Upgrade #1: Improve advanced delegation voting

Voted for this proposal 11 months ago with 2.7M votes

Protocol Upgrade #6: Multi-Chain Prep (MCP) L1

Voted for this proposal 11 months ago with 2.7M votes

Protocol Upgrade #5: Ecotone Network Upgrade

Abstained from voting on this proposal 12 months ago with 2.76M votes

Mission Requests: Intent #2, 4M OP

Abstain
Abstained from voting on this proposal 12 months ago with 2.76M votes

Mission Requests: Intent #4, 1.33M OP

Abstain
Abstained from voting on this proposal 12 months ago with 2.76M votes

Mission Requests: Intent #1, 1.33M OP

Abstain
Abstained from voting on this proposal 12 months ago with 2.76M votes

Mission Requests: Intent #3, 1.33M OP

Abstain
Voted for this proposal 12 months ago with 2.7 votes

Protocol Upgrade #4

Voted for this proposal 12 months ago with 2.76M votes

Protocol Upgrade #4

Voted for this proposal about 1 year ago with 2.78M votes

Proposal to Reclassify Grant Misusage Enforcement

Reason: This is in response to feedback from a large number of top delegates, who have expressed they have no special expertise or time to handle grant misuse allegations.
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